Lloyd’s confirms that a contract has been signed with DXC Technology and the International Underwriting Association (IUA) in an agreement that will build the solutions to digitalize, streamline and fully automate processing for the Lloyd’s and London market; a pivotal moment in fulfilling the ambition set out in Blueprint Two. The agreement has also received… Continue reading Lloyd’s Announces Joint Venture to Digitize Market
Author: Farkas Laura
COVID-19 Relief Ends: Auto Insurance Rates Back on the Rise
The Zebra, the nation’s leading insurance comparison site, released its 2022 State of Auto Insurance Report revealing the national average annual cost for car insurance to be $1,529, up 3% over last year’s reduced rates from the COVID-19 pandemic. The Zebra’s sixth annual State of Auto Insurance Report provides an under-the-hood look at more than… Continue reading COVID-19 Relief Ends: Auto Insurance Rates Back on the Rise
Southern California Ports Struggle to Trim Cargo Backlog as Omicron Surges
As infections among Southern California dockworkers rise, the Covid-19 Omicron variant is impeding efforts to clear a backlog of about 100 container ships at the nation’s busiest port complex. According to the Pacific Maritime Association, approximately 800 dockworkers—roughly one-tenth of the daily workforce at the ports of Los Angeles and Long Beach—were unavailable for Covid-related… Continue reading Southern California Ports Struggle to Trim Cargo Backlog as Omicron Surges
Willis Towers Watson Rebrands to WTW
Willis Towers Watson has dropped its current brand in favor of the shortened WTW as CEO Carl Hess continues to make his mark on the firm around a week after formally assuming the position. After trading under the ticker “WLTW” since 2016, the company now trades under the ticker “WTW,” with the change taking effect… Continue reading Willis Towers Watson Rebrands to WTW
Chubb Off the Hook in Rite Aid Opioid Lawsuit
An appeals court ruled that Rite Aid Corp.’s insurer, Chubb Ltd., will not have to pay the cost of defending the pharmacy chain against lawsuits alleging it mishandled addictive opioid painkillers. In a 4-1 decision on Monday, the Delaware Supreme Court overturned a lower court’s finding that the language of Rite Aid’s insurance policies required… Continue reading Chubb Off the Hook in Rite Aid Opioid Lawsuit
Walgreens, CVS Cut Paid Sick Leave for Workers in Sync with CDC Guidance
Walgreens Boots Alliance and CVS Health Corp said on Tuesday that they have reduced paid sick leave for employees who test positive for COVID-19, aligning their policies with a change in US health guidance. The Centers for Disease Control and Prevention (CDC) in the United States revised its recommendation to isolate people for five days… Continue reading Walgreens, CVS Cut Paid Sick Leave for Workers in Sync with CDC Guidance
U.S. Business Fears Never-Ending Liability from ‘Take-Home’ COVID-19 Lawsuits
As the number of COVID-19 cases in the United States rises, businesses fear that a California court ruling will increase the likelihood that they will be sued for infections, even by people who are not employees or customers. The Dec. 21 ruling allowed the family of Arturo Ek of Los Angeles, who died in April… Continue reading U.S. Business Fears Never-Ending Liability from ‘Take-Home’ COVID-19 Lawsuits
Citizens Adds Thousands of Policies as Florida Lawmakers Seek to Steer Homeowners to Private Insurers
Citizens Property Insurance Corp., backed by the state, continued to add thousands of policies per week in December, while new legislative proposals would attempt to steer more homeowners into the private insurance market. According to newly posted data, Citizens had a total of 759,305 policies as of Dec. 31, an increase of nearly 217,000 policies… Continue reading Citizens Adds Thousands of Policies as Florida Lawmakers Seek to Steer Homeowners to Private Insurers
Weather Disasters in U.S. Dominate Losses in 2021
In 2021, natural disasters caused overall losses of $280 billion, of which roughly $120 billion were insured. Alongside 2005 and 2011, the year 2021 proved to be the second-costliest ever for the insurance sector (record year 2017: $146bn, inflation-adjusted) – overall losses from natural disasters were the fourth-highest to date (record year 2011: $355bn) Hurricane… Continue reading Weather Disasters in U.S. Dominate Losses in 2021
Is Return to Office Dead?
According to industry observers, the rise of remote work, which some labor experts call “the largest change in American working and living conditions since World War II,” is set to accelerate and become a more permanent fixture by 2022. The latest jobs report, released on Friday, revealed a still-volatile labor market, with payrolls increasing by… Continue reading Is Return to Office Dead?